My father and grandfather jointly own a flat which has been fully paid for by my father. If my grandfather dies, how can we ensure that his rights to the property is transferred to my father alone and not his other children? My grandfather has already stated this in his will. Is there any other documentation to ensure the property’s smooth transfer after my grandfather’s demise? —Name withheld on request Intrinsically, there are two approaches to secure a smooth succession of immovable property in question to the intended beneficiary, your father.
One may explore an avenue wherein the residential flat is passed on by your grandfather inter-se during his lifetime. The merit lies in the fact that the transfer can occur during your grandfather’s lifetime, reducing the potential for ambiguity or disputes and eliminating the risk of litigation related to the validity of a will. To execute the said transfer, one may explore relinquishing property rights either via implementing a relinquishment deed or a gift deed.
A relinquishment deed/ gift deed involves a transfer of right, title, and interest in the immovable property in favour of the desired beneficiary. To clarify, your grandfather, being the joint owner of the residential flat, will willingly relinquish or give up or gift his rights in the property in favour of your father without any monetary consideration. The applicable stamp duty is determined by the state laws where the flat is situated.
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